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Among the big winners of the Everything Bubble is–yes, I know you’re shocked–Wall Street.

The ‘novel, apocalyptic situation which has now arisen’ goes largely unrecognized.

When everyone finally leaves the La-La-Land casino and abandons the fairy tale, household wealth held in stocks is a fraction of what it was in the heady days of hot hands rotating into the next hot sector.

Rather than glory in success, we are better served by being extremely wary of success.

So here we are, with a handful of winners declaring the system is working great and high-fiving each other, too busy congratulating themselves to see the tsunami of karma racing toward shore.

Did wages rise 10-fold to match the 10-fold rise in the cost of a modest house? No. That is social recession in a nutshell.

This time around, the Fed may not be able to “save” the bubble from a complete round-trip deflation, which history suggests might decline by 50%.

Owning nothing isn’t happiness. Owning control of one’s life and purpose is happiness.

The less self-congratulatory camp of the super-wealthy understand the pressure cooker of inequality and unfairness is going to blow unless they relinquish some of their unearned gains generated by Fed policies.

As the high generated by the previous iteration of financial repression wears off, the dose increases, as do the stakes when that high wears off.

The global economy is toast. All that’s left is the distribution of the burned bits.

Mimicry of intelligence isn’t intelligence, and so while AI mimicry is a powerful tool, it isn’t intelligent.

There are voluntary ‘Anti-Consumers’ like us, and increasingly, ‘involuntary Anti-Consumers’ who have no choice but to slash all discretionary spending to the bone.

A steady diet of adversity prepares one for both the low-level adversities of daily life but also for the metaphorical droughts and floods that push us to our limits of endurance and adaptability.

I speak not just of magic but of Magick, and my friend Richard Metzger’s latest project.

History suggests being wary of the “strong buys” at $45 when the eventual bottom is $4.

The rollercoaster ride is about to get “fun,” as in unpredictable, volatile and unnerving for those normalized to extreme distortions “fixing” all things financial.